HSBC to facilitate streamlined digital payment system for Ha-Meem Group

Hongkong and Shanghai Banking Corporation Limited (HSBC) has signed an agreement with Ha-Meem Group, one of the country's top Readymade Garments (RMG) manufacturers to process their transactions through online platform HSBC net.

The agreement signing took place at Ha-Meem's corporate office in the presence of Stuart Rogers, Regional Head of International Markets, Commercial Banking, Asia-Pacific, HSBC, Ian Tandy, Co-Head of Global Trade and Receivables Finance Asia-Pacific, HSBC, A K Azad, managing director, Ha-Meem Group and officials from both of the organizations.

As part of the agreement, HSBC will facilitate a streamlined payment system for Ha-Meem, enabling the efficient handling of payments to multiple vendors through a consolidated file upload.

The entire process can be seamlessly managed online, enabling Ha-Meem to experience substantial time savings in payments processing& transactions without bank visits, leading to greater efficiency and reduced errors.

The process will also help reduce paper usage for payment instructions, benefitting the environment.

In this regard Managing Director, Ha-Meem Group, A KAzad said, "Ha-Meem aims to cross the $1 billion mark of export turnover within a short span of time and digital innovation will play key role in this feat".

He appreciated HSBC's partnership towards their digital transformation and expects to get further support that will be fit for Ha-Meem's growth avenue.

Stuart Rogers, Regional Head of International Markets, Commercial Banking, Asia-Pacific, said, Digital Transformation remains a C-suite issue.

“At HSBC, we are committed to introducing innovative solutions to cater to the evolving needs of our esteemed customers. We firmly believe that this partnership will prove to be mutually beneficial and we will continue to provide unwavering support to Ha-Meem Group throughout their digital journey."